Escape from the vicious cycle of poverty usually involves
a. assigning people to specific economic activities
b. increasing the percentage of income that is saved
c. highly sophisticated technology
d. all of the above
e. none of the above
B
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If a worker receives 6 percent higher nominal wages over a year in which inflation is 2 percent, the worker's real wages have
A) risen by 8 percent. B) risen by 4 percent. C) risen by 3 percent. D) fallen by 3 percent. E) fallen by 4 percent.
Which of the following statements is true about the Canadian health care system?
a. Many Canadians travel to the U.S. in order to receive expensive treatments. b. Canadians have the option of purchasing private health insurance if they can afford it. c. Canadian physicians are salaries employees of the provincial health plans. d. Canadian hospitals have significant excess capacity that is used to treat patients from foreign countries. e. Canadian physicians are allowed to "balance bill" patients for certain high-cost procedures.
Refer to the information provided in Table 8.4 below to answer the question(s) that follow. Table 8.4ProduceUsing TechniquesUnits of Variable KInputs L1 unit of outputA4 4?B2 6????2 units of outputA 7 6?B410????3 units of outputA 8 6?B 6 11Refer to Table 8.4. Assuming the price of capital (K) is $10 per unit and the price of labor (L) is $5 per unit, the firm will use production technique ________ to produce ________ of output.
A. B; the first two units of output and production technique A to produce the third unit B. A; all three units C. A; the first unit and production technique B to produce the second and third units D. B; all three units
Which of the monetary policy tools can alter both the level of excess reserves and the money multiplier?
A. The reserve requirement B. The discount rate C. Open-market operations D. The federal funds rate